Paid for by friends of Damschen for Treasurer, not produced at government expense. Contributions to Damschen for Treasurer are not tax-deductible for federal income tax purposes.
Contact
- dcdamschen@gmail.com
- 801-554-7143
Priorities
Strengthening Utah Families
David and his team promote the financial health of Utah families and businesses by working vigorously to return lost money to rightful owners in Utah and driving numerous initiatives that boost Utahns’ financial literacy and capability.
Reunite record levels of lost money with Utah families and businesses
Deeply dedicated to returning lost property to its rightful owners, David and his team in the Unclaimed Property Division have achieved extremely strong performance, significantly increasing the value of unclaimed property paid out to Utahns through constant innovation, implementation of smart technology, and the streamlining of the claims process.
- Annual payments of unclaimed property have more than quadrupled under David’s watch.
- The robust growth in productivity in the Unclaimed Property Division stems from a variety of concerted initiatives:
- The division implemented a superior software-as-a-service (SaaS) application to automate routine tasks, customize process workflows, enhance the claimant experience, and augment data security and fraud detection;
- The division upgraded its searchable website in conjunction with the SaaS application implementation;
- The division implemented “Fast-Track” claims processing to streamline and expedite approximately 50% of all claims - claims that meet certain data match parameters and that fall under a certain dollar threshold;
- The use of document imaging is optimized through use of the SaaS application; and
- Education and outreach initiatives are launched across a broad spectrum, both high-tech and high-touch:
- - Through aggressive use of social media, television, radio, and digital advertising;
- - Rural outreach events; and
- - Direct outreach to charities, local government, and Utah businesses.
- In 2017 and working closely with Senator Lyle Hillyard, Representative Lowry Snow, former Assistant Attorney General Mike Green, Unclaimed Property Administrator Dennis Johnston and the Utah Legislature, David achieved a full “repeal and replace” of Utah’s Unclaimed Property statute, when Utah became the second state in the nation to enact the Revised Uniform Unclaimed Property Act, or “RUUPA.” Passage of RUUPA served to modernize Utah’s unclaimed property statute and better protect Utahns and their lost money.
- David is working with the National Association of State Treasurers to promote passage of the federal Unclaimed Savings Bond Act, which could provide Utahns access to over $200 million in matured, unclaimed savings bonds held by the U.S. Treasury.
Expand consumer financial education and empowerment
During his time as Treasurer and together with his team, David has launched and expanded an array of initiatives that are strengthening the financial literacy and capability of Utah families:
- David is chairman of the Utah Council on Financial and Economic Education (UCFEE), established by legislative resolution (SCR 3) in 2009 to ensure improved financial and economic education in Utah through the collaboration of private and public entities that engage in teaching financial principles and that share a commitment to empowering Utahns to achieve economic stability, opportunity, and upward mobility. UCFEE works to:
- Advocate for and strengthen financial education requirements and programming within the public education system;
- Identify and support programs that empower individuals and families to achieve economic stability, opportunity, and upward mobility; and
- Promote collaboration among UCFEE partner organizations.
- David and his team in the Office of State Treasurer work closely with the Utah State Board of Education to periodically review and enhance the curriculum and end of course evaluation associated with Utah’s General Financial Literacy graduation requirement.
- David and the Office of State Treasurer financial education and outreach team administer the Stock Market Game™ in Utah schools statewide, helping to promote students’ understanding of investments and the free market principles on which our country was founded.
- In 2019, David and the Office of State Treasurer financial education and outreach team launched the Women in the Money: Utah Financial Empowerment Conference, which aims to empower Utah women to achieve financial security by providing access to crucial financial information, valuable resources, and new mentors and friends. 2020’s conference has been postponed to October 9th, and will be staged virtually.
- David is proud to serve as a director on the board of Junior Achievement Utah, a dynamic organization committed to helping Utah students develop in the areas of entrepreneurship, financial literacy, and work readiness.
- David and the Office of State Treasurer financial education and outreach team work closely with the Utah Jump$tart Coalition. Jump$tart’s mission is to improve the personal financial literacy of K-12 youth by providing advocacy, teacher training and educational resources.